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August 03, 2015 9:53 AM ET

IT Services

Company Overview of JetPay Corporation

Company Overview

JetPay Corporation provides debit and credit card processing, payroll, and card services to businesses and their employees in the United States. The company operates through two segments, JetPay Payment Processing and JetPay Payroll. It offers debit and credit processing and ACH payment services to businesses, who processes Internet transactions and recurring billings; and payroll, tax filing, and related services to small and medium-sized employers. The company also provides transaction processing services, such as end-to-end encryption and tokenization; high speed network and authorization; batch processing; gift cards; fraud protection; and Website or payment application services. In addi...

1175 Lancaster Avenue

Suite 200

Berwyn, PA 19132

United States

168 Employees



Key Executives for JetPay Corporation

Founder, Chairman and Chief Executive Officer
Age: 77
Total Annual Compensation: $300.0K
Chief Financial Officer
Age: 55
Total Annual Compensation: $245.0K
Vice Chairman and Secretary
Age: 62
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2014.

JetPay Corporation Key Developments

JetPay Corporation Partners with Rezzcard

JetPay Corporation and Rezzcard have partnered to provide a range of electronic payment options to tenants of multifamily affordable housing properties. Working with JetPay's Card Services team, Rezzcard will offer MAC, a Visa-branded prepaid debit card, and Rezzcard mobile app, to tenants nationwide in public, Section 8, tax credit subsidized and workforce housing developments. With just one tap on the Rezzcard mobile app, the MAC Visa prepaid card will allow residents to pay their rent, as well as other bills, easier and with significant savings as compared to using check cashing agencies, money orders, and other third-party payment methods. The MAC Visa prepaid card allows users to load funds via direct deposit, a bank account transfer, Green Dot cash deposit, or an approved check directly from a smartphone with Ingo Money. Cash withdrawals can be made from any A or wherever Visa debit cards are accepted. JetPay will also provide payment processing services for Rezzcard.

Richard S. Braddock Resigns as Member of the Board and Chairman of the Nominating Committee of JetPay Corporation

On June 5, 2015, JetPay Corporation announced that Richard S. Braddock, a member of the board and chairman of the nominating committee, tendered his resignation effective as of June 5, 2015 for personal reasons. Braddock has served on the board since February 2011.

JetPay Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

JetPay Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. The company’s revenue increased 32.7%, or $2.7 million, to $10.84 million for the quarter ended March 31, 2015 from $8.17 million for the same period in 2014. Earnings before interest, taxes, depreciation, and amortization were $1.0 million and $706,000 for the first quarter of 2015 and 2014, respectively. The increase in adjusted EBITDA in the first quarter of 2015 against 2014 was directly related to the company’s increased revenues, particularly in the Payment Processing Segment. Operating income for the three months ended March 31, 2015 was $118,000, compared to $43,000 for the same period in 2014. The increase in the operating income was attributable to an increase in gross profit, partially offset by an increase in selling, general, and administrative expenses. Net loss for the three months ended March 31, 2015 was $220,000, or a net loss applicable to common stockholders of $1.4 million after accretion of convertible preferred stock of $1.2 million, a loss per share applicable to common stockholders of $0.10, compared to a net loss of approximately $1.4 million, or a net loss applicable to common stockholders of $1.9 million after accretion of convertible preferred stock of $509,000, a loss per share applicable to common stockholders of $0.16 for the three months ended March 31, 2014. The decrease in net loss was primarily related to the increase in revenues combined with the decrease in amortization of deferred financing costs, debt discounts and conversion options. Adjusted EBITDA was $1.3 million against $0.975 million a year ago. Loss before income taxes was $0.162 million against $1.334 million a year ago.

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